Central Garden & Pet Company (NASDAQ:CENTA) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in shares of Central Garden & Pet Company (NASDAQ:CENTA) by 64.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,410 shares of the company’s stock after buying an additional 6,054 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Central Garden & Pet were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. boosted its position in Central Garden & Pet by 6.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company’s stock worth $180,000 after acquiring an additional 325 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Central Garden & Pet by 3.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,048 shares of the company’s stock worth $431,000 after acquiring an additional 398 shares during the last quarter. Bank of Montreal Can boosted its position in Central Garden & Pet by 12.6% during the fourth quarter. Bank of Montreal Can now owns 6,538 shares of the company’s stock worth $216,000 after acquiring an additional 734 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Central Garden & Pet by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,678 shares of the company’s stock worth $981,000 after acquiring an additional 1,024 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in Central Garden & Pet by 1.7% during the first quarter. GHP Investment Advisors Inc. now owns 92,347 shares of the company’s stock worth $3,023,000 after acquiring an additional 1,527 shares during the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Price Performance

Central Garden & Pet stock opened at $35.87 on Wednesday. The company’s 50 day simple moving average is $33.10 and its 200-day simple moving average is $32.13. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 19.18 and a beta of 0.67. Central Garden & Pet Company has a 1 year low of $27.70 and a 1 year high of $37.35. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.93 and a current ratio of 3.31.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. The business had revenue of $833.54 million for the quarter, compared to the consensus estimate of $876.36 million. Central Garden & Pet had a net margin of 3.90% and a return on equity of 10.14%. As a group, equities research analysts expect that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman William E. Brown sold 7,800 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $32.04, for a total transaction of $249,912.00. Following the sale, the chairman directly owned 377,383 shares of the company’s stock, valued at $12,091,351.32. This represents a 2.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 107,800 shares of company stock worth $3,490,112. 20.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CENTA has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Truist Financial restated a “hold” rating and set a $35.00 price target (down from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Central Garden & Pet from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on dog and cat supplies such as dog treats and chews, toys, pet beds and containment, grooming products, waste management and training pads, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.